Rush Enterprises, Inc. (RUSHA) Expected to Earn FY2017 Earnings of $2.15 Per Share
Rush Enterprises, Inc. (NASDAQ:RUSHA) – Stock analysts at Seaport Global Securities issued their FY2017 earnings estimates for Rush Enterprises in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Shlisky expects that the company will earn $2.15 per share for the year. Seaport Global Securities currently has a “Buy” rating and a $62.00 target price on the stock. Seaport Global Securities also issued estimates for Rush Enterprises’ Q4 2017 earnings at $0.54 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.10 EPS.
A number of other brokerages have also recently commented on RUSHA. Stifel Nicolaus increased their price target on shares of Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, October 30th. BMO Capital Markets reiterated a “market perform” rating and set a $50.00 price target (up from $42.00) on shares of Rush Enterprises in a research report on Monday, October 30th. They noted that the move was a valuation call. ValuEngine cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BidaskClub cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Finally, Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Rush Enterprises has a consensus rating of “Buy” and a consensus price target of $50.00.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion.
Rush Enterprises announced that its Board of Directors has approved a share repurchase program on Thursday, November 30th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Derrek Weaver sold 26,732 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the completion of the sale, the executive vice president now owns 14,733 shares of the company’s stock, valued at $768,031.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Thor sold 24,200 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $48.70, for a total value of $1,178,540.00. Following the completion of the sale, the senior vice president now directly owns 39,032 shares of the company’s stock, valued at approximately $1,900,858.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,982 shares of company stock valued at $3,747,332. Insiders own 11.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RUSHA. Schwab Charles Investment Management Inc. lifted its stake in Rush Enterprises by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 261,534 shares of the company’s stock worth $9,724,000 after acquiring an additional 3,496 shares during the period. Legal & General Group Plc lifted its stake in Rush Enterprises by 0.5% in the second quarter. Legal & General Group Plc now owns 42,999 shares of the company’s stock worth $1,597,000 after acquiring an additional 199 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Rush Enterprises by 226.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after acquiring an additional 4,279 shares during the period. Prudential Financial Inc. lifted its stake in Rush Enterprises by 27.9% in the second quarter. Prudential Financial Inc. now owns 84,193 shares of the company’s stock worth $3,130,000 after acquiring an additional 18,350 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Rush Enterprises in the second quarter worth $296,000. 76.27% of the stock is owned by institutional investors.
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About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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